Rosneft attracted $22.98 bln of foreign investment for projects in Far East

Sept 01 2016

TASS

By 2021, the Russian oil giant plans to invest in exploration of the continental shelf of the Far East more than $1.9 bln.

The volume of foreign investments attracted by Rosneft for its projects in the Russian Far East exceeded 1.5 trillion rubles ($22.98 bln), Rosneft CEO Igor Sechin said on Thursday at the launching ceremony of the first stage of Zvezda shipyard.

"We are successfully building long-term partnerships with leading international companies, recognized leaders in the global economy. In the last decade, the share of direct foreign investment, attracted by Rosneft for the Far Eastern Federal District amounted to a quarter of their total value in the region. In absolute terms, foreign investment, attracted by Rosneft for its projects in the Russian Far East exceeded 1.5 trillion rubles ($22.98 bln)," Sechin said.

He also said that by 2021 Rosneft plans to invest in exploration of the continental shelf of the Far East more than 130 bln rubles ($1.9 bln).

Sechin said that Rosneft, despite the sanctions and the current situation, fulfil its obligations for the development of the Far Easters shelf in full and ahead of schedule.

"The company has 19 shelf licenses in the Far East. Despite the sanctions, we fulfil our obligations for the development of the Far Easters shelf in full and ahead of schedule. This includes seismic surveys and exploratory drilling. These works are expensive, but important - they lead to obtaining most valuable information and discovery of new deposits," Head of Rosneft said.